XML 37 R20.htm IDEA: XBRL DOCUMENT v3.22.4
PENSION AND POSTRETIREMENT BENEFITS
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
PENSION AND POSTRETIREMENT BENEFITS PENSION AND POSTRETIREMENT BENEFITS
Defined Contribution Pension Plans
The Company offers defined contribution plans for its employees in certain countries including a 401(k) retirement plan covering substantially all of the Company’s U.S. employees. Employer contributions charged to expense for defined contribution benefit plans for the years ended December 31, 2022, 2021 and 2020, were $29.0 million, $21.3 million, and $16.0 million, respectively.
Defined Benefit Pension Plans
The Company sponsors defined benefit pension plans for its employees in certain countries as governed by local regulatory requirements. During the years ended December 31, 2022, 2021 and 2020, the Company recorded expense of $8.3 million, $5.5 million and $4.3 million, respectively, related to these plans.
The overfunded balance of the Company's defined benefit pension plans is included in Other noncurrent assets in the consolidated balance sheets and the underfunded balance is included in Accrued compensation and benefits expenses for the current portion and Other noncurrent liabilities for the noncurrent portion. As of December 31, 2022 and 2021, the amounts recognized in the Company's consolidated balance sheets for the Company's defined benefit pension plans were as follows:
 As of  
 December 31, 
 2022		As of  
 December 31, 
 2021
Assets/(Liabilities) recognized:
Other noncurrent assets$— $1,167 
Accrued compensation and benefits expenses(832)(561)
Other noncurrent liabilities(9,793)(3,489)
Funded status$(10,625)$(2,883)